UPDATE 2-U.S.-based domestic stock mutual funds suffer $1.83 bln outflow -ICI
By Sam Forgione NEW YORK, April 10 (Reuters) - Investors in mutual funds based in the United States pulled $1.83 billion out of funds that hold U.S. stocks in the latest week, the most since the start of the year, data from the Investment Company Institute showed on Wednesday. The outflows from funds that hold U.S. stocks in the week ended April 3 came despite the benchmark S&P 500 touching a record high over the week. The outflows were also the highest since the week ended January 2, said ICI, a U.S. mutual fund trade organization. In that week, investors redeemed $9.25 billion from the funds. Funds that hold international stocks, however, attracted inflows of $3.08 billion over the week, leading to net inflows of $1.25 billion into stock funds. The S&P 500 fell 0.6 percent over the reporting period. After hitting a record high at the start of the week, the index tumbled following the ADP National Employment Report, which showed unexpectedly weak growth in U.S. private sector jobs and services. Bond mutual funds, meanwhile, attracted $6.44 billion over the week, up from $3.45 billion the prior week. That marked the most new cash committed to bond funds since mid-January, although the funds attracted just slightly less than the latest amount in early March. Hybrid funds, which can invest in stocks and fixed income securities, gained $1.15 billion in new cash over the week, down from $1.82 billion the prior week. The following table is a breakdown of estimated ICI flows for the past five weeks (all figures in millions of dollars): 3/6/13 3/13/13 3/20/2013 3/27/2013 4/3/2013 Total Equity 2,936 3,861 5,025 3,822 1,254 Domestic -571 849 1,277 969 -1,827 World 3,507 3,012 3,748 2,853 3,081 Hybrid* 2,496 2,073 1,406 1,819 1,145 Total Bond 6,416 1,638 5,952 3,446 6,436 Taxable 6,056 1,973 6,231 3,392 6,363 Municipal 361 -335 -278 54 73 Total 11,848 7,572 12,383 9,087 8,836 *Hybrid funds can invest in stocks and/or fixed income securities.
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